EURUSD Testing Final Support Level of Short-term Bullish Channel

EURUSD price fell sharply this week, due to the recovery in the Dollar. This recent gain in strength of the dollar came after the FOMC minutes today. Where the FOMC re-confirmed the pace of the rate hikes.

Trade Step-ups:

Bullish Reversal:
Price rejects a bearish breakout from the current trend channel. Profit levels to look for are 1.5800, 1.6200 & 1.6700 respectively.

Bearish Breakout:
Price breaks bullish channel, look for consolidation below 1.4800.